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Ayco Abandons its €4 Million Capital Increase After Failing to Cover the Minimum Subscriptions

The listed company had decided to change the focus of its business to target the promotion of rental housing and residences for the elderly.

Edificio de Ayco en Velazquez 1024x853 1
Ayco’s building in Velázquez (Madrid).

The Board of Directors of Ayco Grupo Inmobiliario has cancelled the firm’s €4 million capital increase, which had been approved by the General Shareholders’ Meeting in July, after the failure to meet the minimum amount established for the subscription of the new shares.

The next step will be to return the contributions made by shareholders who subscribed new shares in the company through the capital increase, according to reports filed by the company with the National Securities Market Commission (CNMV) on Tuesday.

Read the full article in Spanish.

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